How high is health insurance going to go?

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fortfun
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How high is health insurance going to go?

Post by fortfun » Thu Jan 16, 2020 4:23 pm

DW and I are planning on calling quits around 51 and 53 (approx 4.5 years from now). I was just checking current health insurance prices available from our state's pension system. Currently, a crappy HDHP plan is going to cost $1,500 month and a "better" plan is going to cost $3k/month. The better plan would eat up nearly half of my monthly pension. How much higher are people expecting insurance to go? This could spoil our early retirement plan. One of us may need to maintain a half time job just for insurance. Is there a website with future health insurance cost predictions?
Last edited by fortfun on Thu Jan 16, 2020 4:47 pm, edited 1 time in total.

Jon_PassiveInvestor
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Re: How high is health insurance going to go?

Post by Jon_PassiveInvestor » Thu Jan 16, 2020 4:24 pm

We are 31 and pay $1800 for the three of us!!!
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Re: How high is health insurance going to go?

Post by Texanbybirth » Thu Jan 16, 2020 4:26 pm

Though it could change (not a political discussion!), you don't have to have health insurance anymore. I would say that if you're uncomfortable with the cost of insurance, then you should continue working and haven't really achieved "early retirement".

Who can possibly know how high it will go? It is seemingly ridiculously expensive already today! I am thankful almost every single day that I have employer-sponsored health insurance for my family.
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Re: How high is health insurance going to go?

Post by fortfun » Thu Jan 16, 2020 4:27 pm

Jon_PassiveInvestor wrote:
Thu Jan 16, 2020 4:24 pm
We are 31 and pay $1800 for the three of us!!!
Wow! We are a little spoiled at the moment. DW (and kids) have an inexpensive HSA/HD plan and I have mostly free insurance from my work. I think health insurance is going to be the real wildcard in our plan....

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Re: How high is health insurance going to go?

Post by fortfun » Thu Jan 16, 2020 4:29 pm

Texanbybirth wrote:
Thu Jan 16, 2020 4:26 pm
Though it could change (not a political discussion!), you don't have to have health insurance anymore. I would say that if you're uncomfortable with the cost of insurance, then you should continue working and haven't really achieved "early retirement".

Who can possibly know how high it will go? It is seemingly ridiculously expensive already today! I am thankful almost every single day that I have employer-sponsored health insurance for my family.
I figured a 70k/yr pension, 2M in savings, and 600k paid off house would be enough... Maybe not...

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Re: How high is health insurance going to go?

Post by Texanbybirth » Thu Jan 16, 2020 4:34 pm

fortfun wrote:
Thu Jan 16, 2020 4:29 pm
Texanbybirth wrote:
Thu Jan 16, 2020 4:26 pm
Though it could change (not a political discussion!), you don't have to have health insurance anymore. I would say that if you're uncomfortable with the cost of insurance, then you should continue working and haven't really achieved "early retirement".

Who can possibly know how high it will go? It is seemingly ridiculously expensive already today! I am thankful almost every single day that I have employer-sponsored health insurance for my family.
I figured a 70k/yr pension, 2M in savings, and 600k paid off house would be enough... Maybe not...
I think your paystub/W-2 has to show what your employer paid for your health insurance. With your assets I wouldn't feel comfortable "retiring" if the # on my paystub all the sudden became my responsibility. :shock:
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dmcmahon
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Re: How high is health insurance going to go?

Post by dmcmahon » Thu Jan 16, 2020 4:35 pm

I am seeing the same, and it’s scary. But then another analysis is, how many years will I have to pay it until I reach 65 and Medicare? Then I could set that aside as a cash slug I’ll need for those first X years, and it looks less scary. No way to answer your question about the future, sorry.

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Re: How high is health insurance going to go?

Post by bloom2708 » Thu Jan 16, 2020 4:36 pm

Once the kids fly the coop, we are taking a three pronged approach:

1. Eat healthy, maintain a low BMI (low green) and exercise
2. Consider alternatives like health sharing plans
3. Save specifically for health coverage

See what happens until you retire.
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Re: How high is health insurance going to go?

Post by fortfun » Thu Jan 16, 2020 4:44 pm

Texanbybirth wrote:
Thu Jan 16, 2020 4:34 pm
fortfun wrote:
Thu Jan 16, 2020 4:29 pm
Texanbybirth wrote:
Thu Jan 16, 2020 4:26 pm
Though it could change (not a political discussion!), you don't have to have health insurance anymore. I would say that if you're uncomfortable with the cost of insurance, then you should continue working and haven't really achieved "early retirement".

Who can possibly know how high it will go? It is seemingly ridiculously expensive already today! I am thankful almost every single day that I have employer-sponsored health insurance for my family.
I figured a 70k/yr pension, 2M in savings, and 600k paid off house would be enough... Maybe not...
I think your paystub/W-2 has to show what your employer paid for your health insurance. With your assets I wouldn't feel comfortable "retiring" if the # on my paystub all the sudden became my responsibility. :shock:
Just $644. A lot less than I will have to pay...

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fortfun
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Re: How high is health insurance going to go?

Post by fortfun » Thu Jan 16, 2020 4:46 pm

bloom2708 wrote:
Thu Jan 16, 2020 4:36 pm
Once the kids fly the coop, we are taking a three pronged approach:

1. Eat healthy, maintain a low BMI (low green) and exercise
2. Consider alternatives like health sharing plans
3. Save specifically for health coverage

See what happens until you retire.
Good suggestions Bloom. Already losing wait. Need to go vegetarian like you...

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Re: How high is health insurance going to go?

Post by TN_Boy » Thu Jan 16, 2020 4:46 pm

fortfun wrote:
Thu Jan 16, 2020 4:23 pm
DW and I are planning on calling quits around 51 and 53 (approx 4.5 years from now). I was just checking current health insurance prices available from our state's pension system. Currently, a crappy HDHP plan is going to cost $1,500 month and a good plan is going to cost $3k/month. The good plan would eat up nearly half of my monthly pension. How much higher are people expecting insurance to go? This could spoil our early retirement plan. One of us may need to maintain a half time job just for insurance. Is there a website with future health insurance cost predictions?
I think it is almost impossible to know what is going to happen to health care costs. I would laugh at any website trying to make serious projections five and 10 years out and you are a long way from medicare.

Were I in your situation I'd assume that health insurance for you and DW is going to cost what you see now plus modest yearly increases. Part of that increase is simply because you are getting older. Even though the ACA limited the age-related premium increases, they still exist for those plans. I don't know how your state pension plan health insurance works -- does it care how old you are? If the pension system is not well funded, this may impact the health plan costs in the future.

I cannot see any circumstances (there I go predicting ...) where your costs are likely to drop any significant amount before medicare age.

If you cannot handle current premium costs (and some actual costs before the deductible kicks in) you are not financially ready for retirement, just as if you couldn't afford rent/mortgage.
Last edited by TN_Boy on Thu Jan 16, 2020 4:47 pm, edited 1 time in total.

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fortfun
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Re: How high is health insurance going to go?

Post by fortfun » Thu Jan 16, 2020 4:47 pm

dmcmahon wrote:
Thu Jan 16, 2020 4:35 pm
I am seeing the same, and it’s scary. But then another analysis is, how many years will I have to pay it until I reach 65 and Medicare? Then I could set that aside as a cash slug I’ll need for those first X years, and it looks less scary. No way to answer your question about the future, sorry.
Thanks dmc. That will be 14 years for me. Maybe unrealistic???

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Re: How high is health insurance going to go?

Post by HomeStretch » Thu Jan 16, 2020 4:47 pm

Unsubsidized healthcare exchange policies are expensive. Subsidies can reduce your premium cost significantly. It’s expensive but at least insurance is available through the exchange to pre-Medicare retirees after any COBRA insurance runs out.

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Re: How high is health insurance going to go?

Post by fredflinstone » Thu Jan 16, 2020 4:49 pm

fortfun wrote:
Thu Jan 16, 2020 4:23 pm
DW and I are planning on calling quits around 51 and 53 (approx 4.5 years from now). I was just checking current health insurance prices available from our state's pension system. Currently, a crappy HDHP plan is going to cost $1,500 month and a good plan is going to cost $3k/month. The good plan would eat up nearly half of my monthly pension. How much higher are people expecting insurance to go? This could spoil our early retirement plan. One of us may need to maintain a half time job just for insurance. Is there a website with future health insurance cost predictions?
Our premiums for our crappy HDHP plan were rising 20-30 percent per year, every year. I assumed this awful trend would continue forever. Then -- much to my surprise -- our premiums abruptly dropped about 20 percent this year.
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Re: How high is health insurance going to go?

Post by Shallowpockets » Thu Jan 16, 2020 4:49 pm

Op. Your question begs to be answered, but there are no answers.
Healthcare is a consumer product. Could it ever be priced so high as to be unaffordable?
Some would say it is now. Mostly those who buy it on the open market.
Since end of WWII when employers started paying healthcare as a benefit to work, this has been the only thing allowing the prices to go up. If there were no employer sponsored healthcare then the numbers to support the industry would not be there.
I think at some point it will be priced out of the range of enough people that the open market end of health insurance will collapse.
We just don’t know where that is? Yet.

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Re: How high is health insurance going to go?

Post by veggivet » Thu Jan 16, 2020 4:51 pm

Under the current system, the sky's the limit, and maybe not even that...
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Re: How high is health insurance going to go?

Post by RickBoglehead » Thu Jan 16, 2020 4:55 pm

Pretty wide range on those plans - $18,000 a year to $36,000 a year, but that expensive plan is likely better than anything on the ACA site.

We are looking at $21,600 until Medicare.
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Re: How high is health insurance going to go?

Post by willygreen » Thu Jan 16, 2020 4:58 pm

$1700/month for a family of four is what I pay now. it is our biggest expense every month. Rates increase at least 5% a year. It is the single biggest factor that discourages me from trying to retire early.

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Re: How high is health insurance going to go?

Post by furikake » Thu Jan 16, 2020 5:01 pm

No predictions. Our HDHP plan is $1500/month also, I'm glad we don't have an individual plan, otherwise the docs I went to see for my new condition last year would all be out of network. It's hard to early retire with this health care climate.

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Re: How high is health insurance going to go?

Post by oldfatguy » Thu Jan 16, 2020 5:07 pm

Total premium costs for our employer sponsored health insurance are $2900 a month for covering 2 adults and a child

FI4LIFE
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Re: How high is health insurance going to go?

Post by FI4LIFE » Thu Jan 16, 2020 5:15 pm

I can see why healthcare costs would give you pause, but you should be fine with your savings and pension, spending dependant of course.

As to the question of how high costs could go, how much would you pay to stay alive? Seems like there is no stopping these yearly increases.

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fortfun
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Re: How high is health insurance going to go?

Post by fortfun » Thu Jan 16, 2020 5:16 pm

Thanks everyone! May need to postpone our plans for now...

If DW continues half time, kids will also get 1/2 price tuition at her university, along with health insurance. I guess that's our plan B...

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fortfun
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Re: How high is health insurance going to go?

Post by fortfun » Thu Jan 16, 2020 5:17 pm

FI4LIFE wrote:
Thu Jan 16, 2020 5:15 pm
I can see why healthcare costs would give you pause, but you should be fine with your savings and pension, spending dependant of course.

As to the question of how high costs could go, how much would you pay to stay alive? Seems like there is no stopping these yearly increases.
Thanks FI4LIFE. We will keep all of our options open. Still 4.5 years to go...

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Re: How high is health insurance going to go?

Post by rossington » Thu Jan 16, 2020 5:19 pm

You hate paying those premiums, all the time. Life is going good and things are rolling along great and one day out of the blue you wind up in the hospital, completetly unexpected. Maybe your stay is only 2 or 3 days. The bills start to come in one day the following month. That is the day you will never hate paying those premiums again. (Well, you still might a little if a lot of the providers turned out to be Out of Network).
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Re: How high is health insurance going to go?

Post by quantAndHold » Thu Jan 16, 2020 5:33 pm

How high? Nobody knows. Insurance prices track the cost of healthcare. And...nobody knows.

Will it still be available in a couple of years? Nobody knows.

I’m 56, and have been retired for 3 years. I just go on faith that something will be available, and that I will be able to afford it. Going without coverage is like playing Russian roulette, and I’ve seen the result when that goes wrong. It’s entirely possible to lose everything.

The one thing that came up on another thread in the past couple of days is that if that’s how much you’re going to have to pay, you’re living in one of the more expensive states. You might be able to get better coverage, cheaper, by doing some research and moving.
Yes, I’m really that pedantic.

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Re: How high is health insurance going to go?

Post by chw » Thu Jan 16, 2020 5:46 pm

We pay about $1500 for DW and I (61/63), for a decent Bronze plan (no subsidy). Plan allowed us to contribute to a HSA for first time, which will nicely reduce taxable income. The high premiums will also push us over the limit for the standard deduction and further reduce our tax obligation. Premium actually went down slightly for 2020, which was unexpected given our ages. :happy

Expensive health insurance can be one of the downsides to retiring early. We chose to pay the premiums in exchange for gaining the freedom from our working lives on our terms. No regrets 2 years in. :happy

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Re: How high is health insurance going to go?

Post by Grt2bOutdoors » Thu Jan 16, 2020 5:51 pm

fortfun wrote:
Thu Jan 16, 2020 4:23 pm
DW and I are planning on calling quits around 51 and 53 (approx 4.5 years from now). I was just checking current health insurance prices available from our state's pension system. Currently, a crappy HDHP plan is going to cost $1,500 month and a "better" plan is going to cost $3k/month. The better plan would eat up nearly half of my monthly pension. How much higher are people expecting insurance to go? This could spoil our early retirement plan. One of us may need to maintain a half time job just for insurance. Is there a website with future health insurance cost predictions?
Spend a few hours in an ER, it'll make that $3K seem cheap! Not disagreeing with you on the costs though, they are high and likely to go higher before plateauing. When insurers's say no more, that's when it stops.
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Re: How high is health insurance going to go?

Post by adamthesmythe » Thu Jan 16, 2020 5:55 pm

Right now health care is about 18% of GDP. When it gets near 50% it will crowd out most economic activity.

With respect to OP: early retirement with good health care is unusual and certainly not available to everyone. Most of us should expect to work to 65 (or 63.5) unless we are prepared to take chances.

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Re: How high is health insurance going to go?

Post by J295 » Thu Jan 16, 2020 5:59 pm

chw wrote:
Thu Jan 16, 2020 5:46 pm
We pay about $1500 for DW and I (61/63), for a decent Bronze plan (no subsidy). Plan allowed us to contribute to a HSA for first time, which will nicely reduce taxable income. The high premiums will also push us over the limit for the standard deduction and further reduce our tax obligation. Premium actually went down slightly for 2020, which was unexpected given our ages. :happy

Expensive health insurance can be one of the downsides to retiring early. We chose to pay the premiums in exchange for gaining the freedom from our working lives on our terms. No regrets 2 years in. :happy
You are only able to deduct premiums in excess of 10% of AGI, right?

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Re: How high is health insurance going to go?

Post by MP123 » Thu Jan 16, 2020 6:29 pm

If you're able to keep your income less than 400% of Federal Poverty Level you'll qualify for subsidies on ACA insurance. This works out to keeping income below about $65k/yr for a couple. The subsidies can be very substantial and reduce your premiums to almost nothing depending on what plan you pick.

So you might want to shop around and see what you can find on the Healthcare.gov site if you think you can keep your income low enough to qualify, otherwise the sky is the limit and $1500-$3000/mo for a couple (not including deductible) is quite normal for unsubsidized non-employer paid health insurance once you get to be 50+. And it wasn't that long ago when maybe you couldn't get it at all.

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Re: How high is health insurance going to go?

Post by WhiteMaxima » Thu Jan 16, 2020 6:37 pm

adamthesmythe wrote:
Thu Jan 16, 2020 5:55 pm
Right now health care is about 18% of GDP. When it gets near 50% it will crowd out most economic activity.

With respect to OP: early retirement with good health care is unusual and certainly not available to everyone. Most of us should expect to work to 65 (or 63.5) unless we are prepared to take chances.
Why 63.5?

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Re: How high is health insurance going to go?

Post by adamthesmythe » Thu Jan 16, 2020 6:39 pm

WhiteMaxima wrote:
Thu Jan 16, 2020 6:37 pm
adamthesmythe wrote:
Thu Jan 16, 2020 5:55 pm
Right now health care is about 18% of GDP. When it gets near 50% it will crowd out most economic activity.

With respect to OP: early retirement with good health care is unusual and certainly not available to everyone. Most of us should expect to work to 65 (or 63.5) unless we are prepared to take chances.
Why 63.5?
COBRA.

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Re: How high is health insurance going to go?

Post by happyisland » Thu Jan 16, 2020 8:53 pm

As a US citizen expat this is my #1 source of heartburn when I think about possibly moving back to the States someday. The health insurance system in the US is so expensive I almost can't believe it when you guys throw these numbers around. Yikes.
Hopefully the country will figure this stuff out and get costs reduced to be at least similar to the rest of the developed world.

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Re: How high is health insurance going to go?

Post by JDCarpenter » Thu Jan 16, 2020 9:06 pm

What state are you in, and what city?

That determines your answer.

We are 60 and 59, live in Nashville Suburbs, and are each paying $288 per month. That is for a non-qualified plan and we are each on the hook for up to 30K out of pocket each year. Pretty much what I'd like for coverage--basically major medical insurance, with a good negotiated discount on rack rates. Oh, we get annual exams, DW's mammogram, etc. each year too--although that isn't really important.

ACA/exchange policy(ies) would run us over $1300 a month though.

Edited to add PS--cobra was also 1200 plus a month in 2017.
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Re: How high is health insurance going to go?

Post by willthrill81 » Thu Jan 16, 2020 9:19 pm

In our state and county and for a married couple of your ages, bronze plans are about $1,300/month, and gold plans are about $1,800/month.
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Re: How high is health insurance going to go?

Post by abuss368 » Thu Jan 16, 2020 9:33 pm

No one knows where it will go.
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Re: How high is health insurance going to go?

Post by goodenyou » Thu Jan 16, 2020 9:47 pm

I own my own business of 100 employees. I have to do the subsidizing. The sky is the limit until we start rationing care.
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Re: How high is health insurance going to go?

Post by chw » Thu Jan 16, 2020 9:50 pm

J295 wrote:
Thu Jan 16, 2020 5:59 pm
chw wrote:
Thu Jan 16, 2020 5:46 pm
We pay about $1500 for DW and I (61/63), for a decent Bronze plan (no subsidy). Plan allowed us to contribute to a HSA for first time, which will nicely reduce taxable income. The high premiums will also push us over the limit for the standard deduction and further reduce our tax obligation. Premium actually went down slightly for 2020, which was unexpected given our ages. :happy

Expensive health insurance can be one of the downsides to retiring early. We chose to pay the premiums in exchange for gaining the freedom from our working lives on our terms. No regrets 2 years in. :happy
You are only able to deduct premiums in excess of 10% of AGI, right?
Correct

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Re: How high is health insurance going to go?

Post by Barcelonasteve » Thu Jan 16, 2020 9:55 pm

Yeah, OP, I have a lot less than you, but will be retiring anyway soon and leaving the U.S. in part because I can avoid stupidly expensive health insurance by doing so. I watched as my supervisor delay retirement year after year as he talked health insurance costs. He’s turning 65, but still sticking around because blah, blah, blah.

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Re: How high is health insurance going to go?

Post by Ron Ronnerson » Thu Jan 16, 2020 10:23 pm

I think I would keep saving what I could and remain flexible. You can see what the health insurance landscape along with your retirement balance looks like in a few years and assess at that point. If things have turned dire (such as a very bad recession hitting your investments hard, health insurance costs skyrocketing, ACA gone with nothing replacing it), then either you or your spouse (or both) may need to keep working part time (or more) – not such a bad option if you’ll only be in your early 50s. On the other hand, if your investments grow nicely from a big boom in the next few years and we end up with health insurance costs going down rather than up, then maybe you’ll be even better off than you could have ever imagined. I have a feeling that things will become clearer by the time you’re ready to retire but that’s just according to my foggy crystal ball.

On a side note, I'm a teacher and work for an employer that doesn’t provide health insurance to employees but does to retired workers until they reach Medicare age. It’s sort of the opposite situation as yours in that it tempts people who are not otherwise looking to retire to consider it. I’m currently getting subsidized health insurance on the exchange and very happy with it (we pay $4/month for a family of three on a Silver Plan in the Bay Area). However, I never know what will happen the following year since the costs seem to change unpredictably and the ACA seems to be on less than solid ground. It’s not a comfortable feeling but I just take it one year at a time and try not to worry about the things that are out of my sphere of control – easier said than done at times.

Anyway, I wish you the best of luck but I honestly think you will likely not need it. You have a lot of savings and pensions on top. If you're not in good shape, I'm not sure who is. Remain flexible in case you have to make adjustments along the way and you should be more than fine.

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Re: How high is health insurance going to go?

Post by AerialWombat » Thu Jan 16, 2020 10:42 pm

The health sharing program I participate in just increased from $45/mo to $74/mo. I'm OK with that.

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fortfun
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Re: How high is health insurance going to go?

Post by fortfun » Thu Jan 16, 2020 10:43 pm

Ron Ronnerson wrote:
Thu Jan 16, 2020 10:23 pm
I think I would keep saving what I could and remain flexible. You can see what the health insurance landscape along with your retirement balance looks like in a few years and assess at that point. If things have turned dire (such as a very bad recession hitting your investments hard, health insurance costs skyrocketing, ACA gone with nothing replacing it), then either you or your spouse (or both) may need to keep working part time (or more) – not such a bad option if you’ll only be in your early 50s. On the other hand, if your investments grow nicely from a big boom in the next few years and we end up with health insurance costs going down rather than up, then maybe you’ll be even better off than you could have ever imagined. I have a feeling that things will become clearer by the time you’re ready to retire but that’s just according to my foggy crystal ball.

On a side note, I'm a teacher and work for an employer that doesn’t provide health insurance to employees but does to retired workers until they reach Medicare age. It’s sort of the opposite situation as yours in that it tempts people who are not otherwise looking to retire to consider it. I’m currently getting subsidized health insurance on the exchange and very happy with it (we pay $4/month for a family of three on a Silver Plan in the Bay Area). However, I never know what will happen the following year since the costs seem to change unpredictably and the ACA seems to be on less than solid ground. It’s not a comfortable feeling but I just take it one year at a time and try not to worry about the things that are out of my sphere of control – easier said than done at times.

Anyway, I wish you the best of luck but I honestly think you will likely not need it. You have a lot of savings and pensions on top. If you're not in good shape, I'm not sure who is. Remain flexible in case you have to make adjustments along the way and you should be more than fine.
Thanks for the thoughtful answer RonRonnerson. Much appreciated.

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fortfun
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Re: How high is health insurance going to go?

Post by fortfun » Thu Jan 16, 2020 10:43 pm

Thanks for all the thoughtful answers everyone. I appreciate your input. We will wait and see what transpires over the next four years or so...

HereToLearn
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Re: How high is health insurance going to go?

Post by HereToLearn » Thu Jan 16, 2020 11:03 pm

chw wrote:
Thu Jan 16, 2020 9:50 pm
J295 wrote:
Thu Jan 16, 2020 5:59 pm
chw wrote:
Thu Jan 16, 2020 5:46 pm
We pay about $1500 for DW and I (61/63), for a decent Bronze plan (no subsidy). Plan allowed us to contribute to a HSA for first time, which will nicely reduce taxable income. The high premiums will also push us over the limit for the standard deduction and further reduce our tax obligation. Premium actually went down slightly for 2020, which was unexpected given our ages. :happy

Expensive health insurance can be one of the downsides to retiring early. We chose to pay the premiums in exchange for gaining the freedom from our working lives on our terms. No regrets 2 years in. :happy
You are only able to deduct premiums in excess of 10% of AGI, right?
Correct
The SECURE Act passed last month reduced the threshold from 10% to 7.5%, including for 2019.

https://www.congress.gov/bill/116th-con ... e-bill/110

sawhorse
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Re: How high is health insurance going to go?

Post by sawhorse » Fri Jan 17, 2020 1:29 am

If you want affordable healthcare in early (pre-Medicare age) retirement, the key is to move to another country. The United States has by far the most expensive healthcare in the world, and there are many entities who benefit from that fact and will work hard to keep it that way.

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fortfun
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Re: How high is health insurance going to go?

Post by fortfun » Fri Jan 17, 2020 11:30 am

sawhorse wrote:
Fri Jan 17, 2020 1:29 am
If you want affordable healthcare in early (pre-Medicare age) retirement, the key is to move to another country. The United States has by far the most expensive healthcare in the world, and there are many entities who benefit from that fact and will work hard to keep it that way.
Can you buy policies from another country easily? How much do they typically cost? I wouldn't mind moving somewhere with a warmer climate (Panama, Belize, etc.)

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fortfun
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Re: How high is health insurance going to go?

Post by fortfun » Fri Jan 17, 2020 11:31 am

AerialWombat wrote:
Thu Jan 16, 2020 10:42 pm
The health sharing program I participate in just increased from $45/mo to $74/mo. I'm OK with that.
Where do you get a deal like that? :sharebeer

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rterickson
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Re: How high is health insurance going to go?

Post by rterickson » Fri Jan 17, 2020 11:37 am

fortfun wrote:
Fri Jan 17, 2020 11:31 am
AerialWombat wrote:
Thu Jan 16, 2020 10:42 pm
The health sharing program I participate in just increased from $45/mo to $74/mo. I'm OK with that.
Where do you get a deal like that? :sharebeer
When you're not looking for ACA-compliant health insurance.

fauxden
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Re: How high is health insurance going to go?

Post by fauxden » Fri Jan 17, 2020 11:40 am

I would suggest looking at health share programs like medi share , liberty share, etc. we have been using them for a while now and have had good luck (this includes the birth of a child).

J45
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Re: How high is health insurance going to go?

Post by J45 » Fri Jan 17, 2020 11:47 am

US healthcare system is a huge mess and its not because of doctors!

Its insurance companies, their lobbying, pharmaceutical companies and hospital institutions. Give you example: A prostate removal surgery in US can cost from $30000 - $100000. Same surgery with same level of care costs $5000 in India.

Medication prices example: any average monthly medicine supply is 10-25 times more expensive in US compared to other countries, even Canada. And corporates don't care if one can afford treatment or not.

Some medications are cheaper if you check prices at various pharmacies and more cheap if you have no insurance E.g. Insulin with insurance is much more costly than non-insurance price of $40 at Walmart.

Insurance prices will continue to increase until the whole system falls apart or we start getting drugs from other countries or we have insurance policies from other countries. If you live close to border, you can get 3-month supply of hypertension meds from Canada and its much cheaper.

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